Niall Collins (Limerick County, Fianna Fail)
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295. To ask the Minister for Jobs, Enterprise and Innovation the number of gift vouchers sold on an annual basis in each of the years 2014 to 2016 and to date in 2017, in tabular form; the estimated value of gift vouchers annually over this period; if she will provide the departmental review or research paper on the regulation of gift vouchers here; the data regarding the estimated value of unredeemed gift vouchers by persons annually over same period; and if her Department has examined the regulatory position of expiry dates of vouchers such as is provided in other jurisdictions. [51829/17]

Heather Humphreys (Cavan-Monaghan, Fine Gael)
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Gift cards and vouchers are issued by a very large number of businesses in a number of different forms to both consumers and businesses. As there is no requirement on gift card issuers to compile or provide data on the number and value of gift vouchers purchased annually, I am not in a position to supply the data requested by the Deputy on the number and value of gift vouchers sold from 2014 to date. A survey undertaken for the National Consumer Agency in November 2013 found that four-fifths of respondents had purchased gift vouchers at some point. As businesses also purchase gift cards as rewards for staff and customers, it is clear that the annual value of the gift card market is sizeable. There are no data available similarly on the estimated value of unredeemed gift vouchers. I am aware however of estimates which suggest that 1-2 per cent of gift vouchers redeemable in a wide range of outlets may go unredeemed and that 8-10 per cent of vouchers redeemable in a single retailer or service provider may not be redeemed. 

My Department compiled a range of material on the regulation of gift cards as part of the preparation of, and consultation on, the gift card provisions in the draft Scheme of the Consumer Rights Bill published in 2015. This included details on the legislative provisions on expiry dates in other jurisdictions, principally the United States and Canada. While this material is not available in the form of a single research paper, I would be happy to provide details on any specific aspect of the regulation of gift cards for which information is available in response to any further request from the Deputy.